Houses in the Braintree district cost more than eight times the average wage

Joel Smith, office manager at Allen Estates, said more first time buyers are buying their 'forever home', which could impact on the market

Joel Smith, office manager at Allen Estates, said more first time buyers are buying their 'forever home', which could impact on the market

First published in News by , Reporter

Braintree residents purchasing a house in their home town are finding it almost as expensive as buyers in London.

Taking average wages and house prices into account, homes in Braintree, Witham and the surrounding villages are more than eight times more than a person’s yearly pay, according to statistics by the National Housing Federation, Land Registry and the Office for National Statistics.

In the capital the latest full-year figures show that the average wage is £39,920, while the average house price is about £400,000 - ten times greater than wages.

See this week's Braintree and Witham Times for the full story.

Comments (1)

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11:30pm Mon 1 Sep 14

Bhudeeka says...

Ah yes the lies of building "affordable housing" o greenbeblt I hate to say itbut I told you so all along
Ah yes the lies of building "affordable housing" o greenbeblt I hate to say itbut I told you so all along Bhudeeka
  • Score: -6
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